WASHINGTON—The U.S. trade deficit surged to a record high in 2021 as imports increased sharply amid the restocking of shelves by businesses to meet robust domestic demand. The Commerce Department said on Tuesday that the trade deficit increased 27.0 percent last year to an all-time high of $859.1 billion. The deficit was at $676.7 billion in 2020. “The US trade picture won’t return to normal until the pandemic purchases start to slow and life returns to what it was,” said Christopher Rupkey, chief economist at FWDBONDS in New York. The trade gap represented 3.7 percent of gross domestic product, up from 3.2 percent in 2020. The economy grew 5.7 percent in 2021, the strongest since 1984, after the government provided nearly $6 trillion in pandemic relief, which fueled consumer spending on goods. The goods deficit shot up 18.3 percent to a record $1.1 trillion last year. Imports of goods hit …
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